BORIS JOHNSON BOOED BY ANGRY CROWDS IN LONDON: Boris Johnson, the former mayor of London who spearheaded the campaign for the U.K. to leave the EU, is jeered by an angry crowd of Londoners. VIDEO: http://cnn.it/28QSRKX

BORIS VERBATIM: “This does not mean that the United Kingdom will be any less European.” VIDEO http://bit.ly/28TPZOs. A counter-point to Boris’ optimism: “Brexit wins, everybody loses,” according to ESADE’s professors José María de Areilza and Robert Tornabell. http://politi.co/28V016V

IT’S THE END OF THE EU AS WE KNOW IT: The union will find a way to survive, but there are a lot of ways things can go wrong. Tim King http://politi.co/28VPHdn

**A message from Google.org: Charity begins at home, which is why the Google Impact Challenge asked the public to vote on which non-profit organizations it would like to see supported. See Germany’s choices here: https://goo.gl/pz9VWI**

Monday: Donald Tusk meets François Hollande in Paris at 11 a.m., before both travel to Berlin for a 3 p.m. meeting on Merkel’s initiative with Matteo Renzi, designed to keep Tuesday’s summit on track. Non-eurozone governments like Poland aren’t invited.

Jean-Claude Juncker meets with Parliament’s Martin Schulz, and the leaders of the two biggest party groups, the EPP’s Manfred Weber and the Socialists and Democrats Gianni Pittella.

Tuesday-Wednesday: Council meets Tuesday and Wednesday. Donald Tusk wrote to Europe’s national leaders that “due to the negative outcome of the U.K. referendum we will mostly need to devote our European Council to a discussion on its political consequences.”

THE CAMERON PLAYBOOK NEXT WEEK …

Both Boris Johnson and David Cameron agree they do not want to immediately invoke Article 50 to leave the EU. Playbook’s sources say Dutch Prime Minister Mark Rutte, holder of the rotating EU presidency, agrees. That puts them at loggerheads with EU institutional leaders, especially in the Parliament (Social Democrat Gianni Pittella called the Cameron delay “irresponsible,” Liberal Guy Verhofstadt “unacceptable,” the Christian Democrat Manfred Weber said “no”). The dispute will only be clarified at next week’s summit. Hugo Dixon, a Remain supporter, advises on 8 Dos and Don’ts: http://bit.ly/28XLQOe

THE BRUSSELS RESIGNATIONS BEGIN … It started with MEP Ian Duncan resigning his role as emissions trading rapporteur in the European Parliament, but Duncan won’t be the last.

Bjarke Smith-Meyer and Fiona Maxwell write that a resolution is nearly ready at the European Parliament that calls on the European Commission to relieve Jonathan Hill of his responsibilities as the commissioner for financial services, “with immediate effect.” The motion dated Friday and obtained by POLITICO, has 16 demands and is expected to be voted Tuesday.

The document was signed by MEPs Manfred Weber, Gianni Pittella, Guy Verhofstadt, Rebecca Harms, and Philippe Lamberts — leaders of four party groups who together make up a parliamentary majority. The EU’s executive arm is under no legal obligation to relieve Hill of his duties as long as the U.K. is part of the European Union. http://politi.co/28Sf0vF

SHELL-SHOCKED EUROCRATS: President Juncker yesterday sought to reassure British Commission officials they would not be fired, or be forced to take personal responsibility for how their compatriots voted. That didn’t stop the tears. “There’s one winner today — and that’s Kleenex,” one official said.Mayors in Brussels communes say applications for Belgian citizenship jumped immediately upon news of Brexit. Le Soir | Duncan Robinson for FT.

SCOTLAND AND IRELAND PLAYBOOK …

Scotland: A second referendum on independence is now “highly likely,” says Scotland’s First Minister Nicola Sturgeon, after every part of Scotland voted for Remain. http://bbc.in/28ZtURv

Ireland: Sinn Féin says the British government “has forfeited any mandate to represent the economic or political interests of people in Northern Ireland.”

THE RACE TO REPLACE CAMERON: The Telegraph reports Boris Johnson (as prime minister) and Michael Gove (as chancellor) are preparing a “dream team” bid to take control of the Conservative Party leadership. The Times says Cameron is making it his final mission to stop Boris Johnson getting the keys to 10 Downing Street, pushing for Theresa May to take over instead.

The upshot: Johnson and May are likely to be the two candidates the Conservative Party’s committee of backbench (ordinary) MPs puts forward for members of the Conservative party to vote on over the summer. Others who could make the shortlist include new generation candidates, the ministers Stephen Crabb, Dominic Raab and Nicky Morgan. FT | Telegraph | Times | The Sun

WHAT BRUSSELS WANTS … It’s a strategy of respect, regret and move quickly. In yesterday’s meeting of EU presidents (Tusk, Juncker, Schulz and Rutte), Florian Eder reports from sources in the room that Schulz and Juncker were the hardliners. Tusk and Rutte, however, wanted Euroskeptics to be handled sensitively, and therefore urged slower responses.

Martin Schulz: Wants no delay in the negotiations, says the U.K. must go as quickly possible and the EU cannot be held hostage during a second Conservative Party fight (after months of Brexit campaigning, now the race to replace Cameron).

The Dutch EU presidency: Foreign Minister Bert Koenders explained the feelings of the EU’s foreign ministers after a meeting in Luxembourg. “It was very clear from all sides that we should not stay in a vacuum. You cannot have your cake and eat it.” http://politi.co/297hN2u

WHAT BERLIN WANTS …

Angela Merkel told reporters at a Friday press conference that we must not draw “hasty and simple conclusions” but at the same time, “there is no point beating about the bush. Today represents a break in Europe’s history, a break in the process of European integration.” She said that given its wartime past, “Germany has a special interest in and a special responsibility for the European Union to succeed” and that to do that we “have to ensure that citizens get a concrete sense of how the European Union contributes to improving their own personal lives.”

BLAME CAMERON — PM QUITS WITH A RUINED LEGACY: The Economist’s Jeremy Cliffe speaks some inconvenient truths in this column. As Cameron sought to highlight the best of his six years in office, “most unedifying was his attempt to imbue the referendum result, easily one of the most ill-conceived and profoundly damaging political events of Britain’s post-war history, with some nobility. It had been a great democratic exercise, the prime minister told the crowds …

“To put it kindly, this was a fantasy. Mr Cameron took the reckless decision to pledge to hold a vote (against the better wisdom of George Osborne, the chancellor, who is also bound to go) back in 2013. He had not needed to. The public was certainly not clamouring for one.” http://econ.st/28X9ny8. Max Hastings describes Cameron as now “humbled by his arrogance.” http://dailym.ai/28SzTU9

WHAT IS THE EU? Google released some interesting data about U.K. online searches Friday, which indicates not everyone knew what they were voting for Thursday. http://bit.ly/293jJdF

12 PEOPLE WHO BROUGHT ABOUT BREXIT: Meet some familiar, and some unfamiliar faces. What did smooth Will Straw and high-flying Roland Rudd lack at the Remain team? Why did they resemble “the guest list for a dinner party on Oleg Deripaska’s yacht … a campaign built to speak to Davos, not Daventry?” Who are Dominic Cummings and Matthew Elliott, two of the most effective campaigners? Robert Colvile: http://politi.co/297hlBc

NOTHING IN BRITAIN IS AS IT SEEMS: Tunku Varadarajan: “I refuse to believe that the Britain that took me in has now evaporated, or gone to hell. Forty-eight percent voted to Remain; and of the 52 percent that didn’t, only a third, I wager, did so for reasons that might be classed as xenophobic … I am, perhaps, being too generous here, overly tolerant of people who don’t merit the benefit of my doubt. But if there’s anything Britain has taught me, it’s that you shrug your shoulders when things don’t go your way and make your peace with the man who disagrees with you.”http://politi.co/293q5tj

IMPACTS ON OTHER REGIONS …

Central Europe: “Poland has just lost the only significant partner in the European Parliament political grouping. This will make it even harder for Poland to push its agenda in Europe.

“The aftermath of Brexit will leave Central and Eastern Europeans less trustful in the general idea of [the] European integration project and will boost nationalist sentiments.” Wojciech Przybylski, editor-in-chief, Eurozine and Visegrad Insight, Warsaw: http://bit.ly/28TKfUl

HILLARY CLINTON URGES BACKERS TO AVOID REMAIN CAMPAIGN’S MISTAKES: Overnight Friday the Clinton campaign emailed supporters about Brexit. “Right up until the moment the outcome of the vote was announced, political observers and financial analysts were confident that the referendum to leave the EU would fail. They never actually processed the possibility of a different result. We can’t make the same mistake.

No matter what the collective wisdom of our political punditry has to say between now and November, Donald Trump has a real chance of winning this election. Together, we have to wrap our minds around that fact — and resolve to act on it.” Read the full email: http://politi.co/28SWz7v. Clinton also said in a separate statement, “This time of uncertainty only underscores the need for calm, steady, experienced leadership in the White House.” http://politi.co/2978iQW

US — AMERICA’S BREXIT MOMENT IS COMING: “Consensus among the men and women who steer the Western world, is this: The globe is flattening. Borders are crumbling. Identities are fluid … those who cannot see this, those who would resist it, those who would undo it — they are ignorant of their own interests, bigoted, xenophobic, and backward … No longer. In 2016, the consensus crumbled, torn apart by a failure of empathy, and a failure of imagination.” Yoni Appelbaum http://theatln.tc/28SAaXj

THE MARKETS …

One of the most spectacular pieces of information to circulate Friday was the claim that £350 billion of value had been wiped off various British markets in one morning alone. That’s more than the U.K. has paid into the EU over the course of its 43 year membership. (Globally markets took a $2 trillion hit.) Incredible, surely? Except that those who voted for Brexit tend not to have much to lose in cross-border financial trading. They were unlikely to have felt the financial hit yesterday.

MUST READ — ‘IF YOU’VE GOT MONEY, YOU VOTE IN … IF YOU HAVEN’T … YOU VOTE OUT:’ John Harris has some telling interviews here and writes: “The atmosphere around the referendum had the sulphurous whiff not just of inequality, but a kind of misshapen class war.” http://bit.ly/28Tixtn

A TALE OF TWO CREDIT OUTLOOKS: “Moody’s has affirmed the European Union’s AAA rating and maintained its stable outlook,” the firm emailed investors overnight. The U.K. was not so lucky. Stephen Rothwell of Moody’s explained the agency’s decision to slash “the outlook on the U.K.’s government bond rating to negative from stable … reflects three key drivers: 1. The country’s economic growth prospects could be materially weaker than expected so far. 2. The predictability and effectiveness of economic policymaking might be diminished. 3. The government’s fiscal strength will likely be lower.”

DRAGHI AND CARNEY MET PRIVATELY FRIDAY: The meeting took place in London as the ECB said it had “prepared for this contingency in close contact with the banks that it supervises and considers that the euro area banking system is resilient in terms of capital and liquidity.” http://politi.co/28XmBJA

ANALYSIS —EUROZONE GROWTH PROSPECTS HALVED FOR 2017: “The initial market reaction has been universally negative … The markets will remain volatile for some time since, despite the vote, there are huge uncertainties about how the situation will evolve,” IHS said in an emailed statement.

The firm said: “IHS had been relatively upbeat about Eurozone GDP growth prospects, seeing GDP growth at 1.7 percent in 2016, 1.8 percent in 2017 … Post U.K. vote, we are cutting our eurozone GDP growth forecasts to 1.4 percent in 2016, 0.9 percent in 2017.” The military team at IHS Jane’s predicts “reduced military funding and foreign direct investment but potentially greater latitude regarding procurement decision-making. IHS now projects that the U.K. defence budget will actually stagnate and be cut by 0.1 percent in real terms annually out to 2020.”

AUSTRALIAN CURRENCY SHOP ‘MAYHEM:’ Even huge banks like the Commonwealth Bank (Australia’s largest bank and the largest Australian publicly listed company on the country’s securities exchange) suspended some of its foreign exchange transfers after the pound sterling fell to its lowest point in more than 30 years. http://bit.ly/293kNOI

LOBBYLAND: Advisory firms are worried by Brexit, and sense the opportunity too. Firms like Covington have even created new structures like a “Brexit taskforce” to deal with all the client anxiety. Is your firm doing likewise, or have you been offered such a service? Let Playbook know rheath@politico.eu

SCOTLAND IS THE NEW CANADA: You’ve heard of people considering moving to Canada if the candidate they hate wins the U.S. presidential election. Now Britons are searching online for how to move to Scotland, if they can’t bear the thought of living in non-EU England. http://bit.ly/28VNXkg

**A message from Google.org: Google.org helps non-profits in a variety of ways: advising them on how to use technology, giving them software products, or getting Google experts to assist in scaling up their operations. But often one of the most scarce resources for tech-driven ideas for social impact is funding. Google.org awards cash grants to non-profits whose work we admire. In Germany, we gave 3.85 million euros to projects from a mobile app for first aiders which can literally save lives, to a GPS-enabled foraging map to help people find local fruit trees. In France, we’ve backed 10 ideas for a better world, varying from 1001fontaines which makes simple water purification technology available worldwide, to Bibliothèques Sans Frontières, which sends refugees a “toolbox” of computers, tablets and books to get connected and learning, no matter where they are. See more on the winners of the Google Impact Challenge here: https://goo.gl/rT41jt**

This edition of Playbook was amended to clarify that Moody’s U.K. bond rating is an outlook.